Johnson Matthey Electronics Acquires Minnesota Firm

Johnson Matthey Electronics is continuing its aggressive growth, this time through the acquisition of a Minnesota company called Advanced Circuits Inc.

Headquartered in Spokane, Johnson Matthey Electronics during the past 12 months has:

Acquired manufacturer Climax Performance Materials.

Opened a manufacturing operation in South Korea.

Established a Japanese joint venture.

Expanded its European operations.

Opened new sales and service facilities in California and the Philippines.

The Spokane company’s parent, London-based Johnson Matthey PLC, will pay $171 million for Advanced Circuits, a public company which had income of $7.2 million, or 98 cents per share, on sales of $128 million during the first three quarters of the 1995 fiscal year.

Johnson Matthey Electronics had sales of $335 million for the 12-month period ended May 31.

Johnson Matthey Electronics is the leading supplier of high purity materials to the semiconductor and micro-electronics industries.

Advanced Circuits is a manufacturer whose products include complex multilayer printed circuit boards, flexible circuit assemblies and semiconductor packages.

, DataTimes